The Central Bank of Russia expanded the range of bonds that non-qualified investors can purchase without testing, allowing them to buy corporate bonds with a credit rating of A+ or higher. The exemption does not apply to bonds secured by monetary claims, including mortgage bonds. The Central Bank of Russia characterised the newly eligible instruments as highly liquid and having an insignificant default probability of no more than 1.3%, framing the change as providing sufficient protection from credit risk for retail investors. Previously, non-qualified investors could buy without testing only federal government bonds, bonds issued by Russian constituent territories regardless of credit rating, and other fixed income debt securities rated at least AAA.
Central Bank of Russia 2025-02-20
Central Bank of Russia lets non-qualified investors buy A+ or higher rated corporate bonds without testing
The Central Bank of Russia has expanded the range of bonds available to non-qualified investors without testing, now including corporate bonds with a credit rating of A+ or higher. This change excludes bonds secured by monetary claims, such as mortgage bonds. The bank describes these instruments as highly liquid with a default probability of no more than 1.3%, offering adequate credit risk protection for retail investors.